Chris Dawson in Talks to Rescue Homebase

Chris Dawson, known as the 'Del Boy billionaire' and owner of The Range, is close to securing a deal to rescue approximately 70 Homebase stores, potentially saving around 1,600 jobs. Homebase, which has been facing significant financial difficulties and reported a loss of £84.2 million in the previous year, has engaged administrators Teneo to oversee the process. Despite the positive outlook for some stores, up to 1,000 staff members remain at risk of redundancy if buyers for the remaining locations cannot be found. Dawson's acquisition is estimated to be worth £30 million, which includes the Homebase brand and website. Previous attempts to find buyers for the chain have failed, and the closure of 34 stores with around 500 employees is still a possibility. The outcome of the negotiations will have significant implications for the future of the British high street, already reeling from several retail collapses.